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The existing general sales tax laws were replaced with the Value Added Tax Act (2005) and associated VAT rules. A few states ( Gujarat , Tamil Nadu , Rajasthan , Madhya Pradesh , Chhattisgarh , Jharkhand , Uttarakhand and Uttar Pradesh ) opted to stay out of VAT taxation system during the initial introduction of VAT but adopted it later.
The Income Tax Department Karnataka & Goa is the revenue enforcement and collection agency for the state of Karnataka and Goa, India. It has its headquarters in Bangalore , the state capital. The Direct Taxes Regional Training Institute was built in Bangalore at Jalahalli.
Recently, in another case, some IRS officials were found to help certain companies evade payment of Service tax and related penalties of the order of ₹ 1 crore. [19] Also CBI raided premises of an income tax officer for demanding Bribe to the tune of ₹ 60 crore for covering up Stock Guru Scam. [20]
The tax rates, rules and regulations are governed by the GST Council which consists of the finance ministers of the central government and all the states. The GST is meant to replace a slew of indirect taxes with a federated tax and is therefore expected to reshape the country's $3.5 trillion economy, but its implementation has received criticism.
Central Sales Tax, 1956, which imposes sales tax on goods sold in inter-state trade or commerce in Indisale of property situated within the state [18] In the 2016 Union budget of India, an excise of duty of 1% without input tax credit and 12.5% with input tax credit was imposed on articles of jewellery with the exception of silver jewellery. [19]
The digital office of the Income Tax Department of India is based in Bangalore. The need for the build of systems to collect and refund taxes for millions of citizens and need for data analytics and AI to prevent fraud meant that Bangalore city was an obvious choice for the same.
The National Academy of Customs, Indirect Taxes and Narcotics (NACIN) formerly known as National Academy of Customs, Excise and Narcotics (NACEN) [3] is the apex civil service training institute of Government of India for capacity building of civil servants in the field of indirect taxation, particularly the areas of customs, GST, central excise, service tax and narcotics control administration.
Wholesale sales tax, a tax on sales of wholesale of tangible personal property when in a form packaged and labeled ready for shipment or delivery to final users and consumers; Retail sales tax, a tax on sales of retail of tangible personal property to final consumers and industrial users [3] Gross receipts taxes, levied on all sales of a ...